A leadership dispute has emerged between the Social Security and National Insurance Trust (SSNIT) and the Board of The Golden Beach Hotels (GBH) following a directive of the Director General of SSNIT to reverse the appointment of the Acting Chief Executive Officer (CEO) and General Manager of the La Palm Royal Beach Hotel.
In a letter dated January 30, 2025, Kofi Osafo-Maafo, writing on behalf of SSNIT, as the sole shareholder of GBH, rejected the appointment of Mr. Isaac Gyadu as Acting CEO of GBH and General Manager of La Palm, effective February 1.
SSNIT cited concerns over the lack of a transparent recruitment process, the need for the incoming SSNIT management to assess hotel performance, and the appointment’s alleged contradiction of shareholder directives.
The letter, signed by SSNIT Director-General Kofi Osafo-Maafo, called for an immediate reversal of the decision and proposed an alternative leadership arrangement.
SSNIT instructed the GBH Board to establish a three-member interim management committee, appoint La Palm’s most senior officer as Acting General Manager, and conduct a competitive recruitment process with SSNIT’s involvement.
It also demanded an emergency board meeting by February 5 to address the issue, warning that failure to comply would result in SSNIT convening an extraordinary general meeting.
However, in a strong rebuttal on February 3, GBH’s Acting Board Chairman, Franklin Asare, defended the appointments, stating that the process was “lawful, prudent, and pragmatic.”
He emphasized that the board’s decision was unanimous and conducted transparently.
Asare dismissed SSNIT’s claim that the appointments were made contrary to shareholder directives, arguing that no such directive existed.
He also justified the decision by pointing out that several successful hotels within SSNIT’s portfolio, such as Labadi Beach Hotel, are managed by former GBH employees.
The GBH Board further warned that reversing the appointment could reignite a recent industrial action at La Palm, which had already disrupted operations.
According to Asare, the board’s intervention had restored stability following allegations against the previous CEO and General Manager, which led to a prolonged standoff involving the police, National Security, and labor unions.
While affirming its commitment to working in the best interests of SSNIT and the hotel staff, the GBH Board indicated its willingness to meet with SSNIT for further discussions, provided that due process is followed.
This dispute raises concerns about corporate governance and shareholder influence over key management decisions.
Whether SSNIT will push forward with its directive or reach a compromise with the GBH Board remains to be seen.
However, staff of the hotel have kicked against Kofi-Maafo’s autocratic behaviour of trying to lord himself over management of hotels that fall under SSNIT.
According to them, they could not fathom why he continues to take decisions when it is indeed clear that his term of office has ended.
Some alleged that, lands belonging to the hotel have been sold by Kofi-Maafo led group which they called on the President to look into.
More to follow…
